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  4. [Form 4] Sea Ltd Insider Trading Activity

Sea executive sells 1,600 shares under plan

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Sea Ltd chief commercial officer and general counsel Yanjun Wang reported indirect open-market sales of 1,600 Class A ordinary shares on April 8–9, 2026. The shares were sold by a BVI entity controlled by Wang under a pre-arranged Rule 10b5-1 trading plan, and the entity held 25,200 shares afterward, while Wang also held 1,222,842 shares directly.

Positive

  • None.

Negative

  • None.

Insights

Pre-planned, small insider sale with large remaining stake.

Sea Ltd's CCO and GC, Yanjun Wang, oversaw indirect open-market sales of 1,600 Class A shares via a BVI entity on April 8–9, 2026. Reported sale prices ranged from about $82.98 to $89.36 per share.

The filing states the trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted by the BVI entity controlled by Wang. Such plans are typically set up in advance, so the timing of individual trades provides limited insight into management's short-term view.

After these transactions, the BVI entity held 25,200 shares and Wang also held 1,222,842 shares directly, indicating that the sale covered only a small fraction of his disclosed holdings. The filing shows no derivative exercises, gifts, or tax-withholding events, suggesting this was a routine, modest liquidity move.

Insider Wang Yanjun
Role CCO and GC
Sold 1,600 shs ($137K)
Type Security Shares Price Value
Sale Class A ordinary shares 195 $82.98 $16K
Sale Class A ordinary shares 138 $84.06 $12K
Sale Class A ordinary shares 467 $84.71 $40K
Sale Class A ordinary shares 425 $85.94 $37K
Sale Class A ordinary shares 291 $87.13 $25K
Sale Class A ordinary shares 75 $88.21 $7K
Sale Class A ordinary shares 9 $89.36 $804.24
holding Class A ordinary shares -- -- --
Holdings After Transaction: Class A ordinary shares — 25,200 shares (Indirect, By BVI entity); Class A ordinary shares — 1,222,842 shares (Direct)
Footnotes (8)
  1. F1. The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by the Reporting Person on September 4, 2025.
  2. F2. Represents the weighted average price of shares sold at prices that ranged from $85.64 to $86.63. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.
  3. F3. Represents the weighted average price of shares sold at prices that ranged from $86.64 to $87.63.
  4. F4. Represents the weighted average price of shares sold at prices that ranged from $87.73 to $88.52.
  5. F5. Represents the weighted average price of shares sold at prices that ranged from $88.99 to $89.55.
  6. F6. Represents the weighted average price of shares sold at prices that ranged from $82.48 to $83.46.
  7. F7. Represents the weighted average price of shares sold at prices that ranged from $83.51 to $84.47.
  8. F8. Represents the weighted average price of shares sold at prices that ranged from $84.48 to $85.30.
Shares sold 1,600 shares Open-market sales on April 8–9, 2026
Sale price example $82.98 per share Open-market sale on April 9, 2026
Sale price example $89.36 per share Open-market sale on April 8, 2026
Indirect holdings after 25,200 shares BVI entity controlled by Wang after sales
Direct holdings after 1,222,842 shares Directly held Class A ordinary shares as of April 8, 2026
Sell transactions 7 sales Non-derivative open-market sales reported in Form 4
Rule 10b5-1 trading plan regulatory
"The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity..."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Class A ordinary shares financial
"security_title: Class A ordinary shares in each non-derivative transaction entry"
Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.
weighted average price financial
"Represents the weighted average price of shares sold at prices that ranged from..."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
BVI entity financial
"The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity..."
open-market sale financial
"transaction_action: open-market sale for each sale transaction"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

How many Sea Ltd (SE) shares were sold in this Form 4 filing?
The filing reports sales of 1,600 Class A ordinary shares of Sea Ltd. These shares were sold in several open-market transactions on April 8–9, 2026 by a BVI entity controlled by CCO and GC Yanjun Wang under a Rule 10b5-1 plan.

At what prices did the Sea Ltd (SE) insider sales occur?
Reported sale prices ranged from about $82.98 to $89.36 per Class A share. The filing discloses specific transaction prices plus weighted average prices across ranges, with additional detail available on request to the SEC staff, the issuer, or its shareholders.

Were the Sea Ltd (SE) insider sales made under a Rule 10b5-1 trading plan?
Yes. The filing states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted on September 4, 2025 by a BVI entity controlled by Yanjun Wang. Such pre-arranged plans are typically established in advance to systematize trading activity.

How many Sea Ltd (SE) shares does the insider hold after these sales?
After the reported transactions, the BVI entity held 25,200 Class A ordinary shares indirectly for Yanjun Wang, while he also held 1,222,842 shares directly. This indicates the 1,600-share sale represents a small portion of his disclosed overall holdings.

Who executed the Sea Ltd (SE) share sales reported in this Form 4?
The sales involve a BVI entity controlled by Yanjun Wang, Sea Ltd's chief commercial officer and general counsel. The filing shows the entity conducted open-market sales of Class A ordinary shares, with Wang reporting the trades as indirect ownership transactions.

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SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Wang Yanjun
(Last)(First)(Middle)
C/O 1 FUSIONOPOLIS PLACE,
#17-10, GALAXIS
(Street)
SINGAPORESINGAPORE138522
(City)(State)(Zip)
SINGAPORE
(Country)		2. Issuer Name and Ticker or Trading Symbol
Sea Ltd [ SE ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
CCO and GC
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/08/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Class A ordinary shares04/08/2026S425(1)D$85.94(2)26,375IBy BVI entity
Class A ordinary shares04/08/2026S291(1)D$87.13(3)26,084IBy BVI entity
Class A ordinary shares04/08/2026S75(1)D$88.21(4)26,009IBy BVI entity
Class A ordinary shares04/08/2026S9(1)D$89.36(5)26,000IBy BVI entity
Class A ordinary shares04/09/2026S195(1)D$82.98(6)25,805IBy BVI entity
Class A ordinary shares04/09/2026S138(1)D$84.06(7)25,667IBy BVI entity
Class A ordinary shares04/09/2026S467(1)D$84.71(8)25,200IBy BVI entity
Class A ordinary shares1,222,842D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by the Reporting Person on September 4, 2025.
2. Represents the weighted average price of shares sold at prices that ranged from $85.64 to $86.63. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.
3. Represents the weighted average price of shares sold at prices that ranged from $86.64 to $87.63.
4. Represents the weighted average price of shares sold at prices that ranged from $87.73 to $88.52.
5. Represents the weighted average price of shares sold at prices that ranged from $88.99 to $89.55.
6. Represents the weighted average price of shares sold at prices that ranged from $82.48 to $83.46.
7. Represents the weighted average price of shares sold at prices that ranged from $83.51 to $84.47.
8. Represents the weighted average price of shares sold at prices that ranged from $84.48 to $85.30.
/s/ Emily Tan, attorney-in-fact for Yanjun Wang04/10/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR